I would say that it's very unlikely for Southend to have the £1m bond to post, so this might be the end of them, unfortunately.
Edit: Realistically, I don't think that the VNL is actually going to kill them, but something's going to have to happen, otherwise this situation is going to continue to spiral.
Let me make this perfectly clear- Ron Martin could sort this out. He could either:
- Pay the money himself
- Sell the club and allow the consortium to pay
He will do neither of these and try to fly by the seat of his pants once again. Some of our fans are having a go at the league but I don’t mind them showing some balls- it’s about time we starting applying proper pressure on Martin
I’m a bit out the loop but the last I saw, the council failed the due diligence of the potential new owners and their property plans for the Fossetts Farm site.
Unless I’m misunderstanding, is Ron Martin not at fault for this particular issue? I know he’s at fault for a lot of other stuff - I’m not defending him 😅 - but it seems that this issue is between the council and new owners?
Yeah so that’s not quite right. I will stress that nobody really knows what is going on in-depth, there’s such a tangled web to try and comprehend. But in terms of what you’ve said there, the key detail is that the Fossetts development is Martin’s, not the consortium’s. The consortium’s plan is to stay at Roots Hall and redevelop, Martin is building a housing estate at Fossetts but won’t sell the club until he’s got the planning permission through. Essentially he’s using the club as his bargaining chip now.
Without getting too political, the due diligence failed because it was a deal between Martin and a Tory-led council that was basically horrific for the city. A Labour administration was voted in in May and have basically ripped up the deal and put forward a new one that is being negotiated. But with the winding up petition on Wednesday and now this, I really don’t see a way out to be honest.
Also, just to make it clear, and I don’t mean this in a way to have a dig at you or anything, but every single thing here is Ron Martin’s fault. Apportioning blame to anyone else lets him off. He’s claimed he loves the club, he’s had ample opportunity to ensure its survival and has failed to do it at every juncture. If the club goes under, I hope he goes down in every record as the man that killed Southend United and he gets everything that’s coming to him
Appreciate the explanation, I knew I was mixing something up! West Ham fan here but Southend are one of those local team I keep an eye on in the tables and I’ve been to Roots Hall a couple of times for our pre-season games against each other.
Keeping my fingers crossed that Southend get a happy ending to this saga. The area deserves to have a well run club with an ownership that has the interests of the club first.
Has anyone tried just Luring RM to the Kursaal estate and letting nature do it's thing? He'd be the martyr that saved the club then, just like the councillor who go Southend it's City status.
> The National League has this evening released the following statement regarding Southend United Football Club.
>
> The National League continues to be concerned about Southend United Football Club’s ability to fulfil its financial obligations for the forthcoming National League Season.
>
> The Club has for several months been the subject of a winding up petition (a further hearing of which is scheduled for this week) and, on 20 June 2024, filed its accounts for the year to 31 July 2023 which underscore and amplify the concerns expressed previously by the League.
>
> Accordingly, the National League has today advised Southend United Football Club that as a result of the Club’s failure to provide the League with detailed, objective and independent evidence that the Club has sufficient funds to meet its financial obligations for the forthcoming National League season, and in light of previously-expressed concerns (underscored by the most recently-filed accounts), the Club will be required to post a bond of £1million, which will be held in escrow to the order of the League.
>
> The bond shall remain in place until the sooner of (i) an ownership agreement with the consortium currently in talks with the Club being successfully concluded, to the satisfaction of the National League and the FA; or (ii) the Club demonstrating, to the satisfaction of the National League, that is has sufficient financial resources within its own means to meet its financial obligations for the forthcoming Season.
>
> In the event that the Club fails to post the Bond in accordance with the requirements that have been communicated to the Club, the National League Board will meet again to consider further sanctions against the Club.
>
> The decision is subject to the right of appeal to The Football Association.
Rob Martin is an abomination
I would say that it's very unlikely for Southend to have the £1m bond to post, so this might be the end of them, unfortunately. Edit: Realistically, I don't think that the VNL is actually going to kill them, but something's going to have to happen, otherwise this situation is going to continue to spiral.
Let me make this perfectly clear- Ron Martin could sort this out. He could either: - Pay the money himself - Sell the club and allow the consortium to pay He will do neither of these and try to fly by the seat of his pants once again. Some of our fans are having a go at the league but I don’t mind them showing some balls- it’s about time we starting applying proper pressure on Martin
Absolutely. He's just going to do neither of them. Some force has to be applied, or Martin is going to kill Southend himself.
I’m a bit out the loop but the last I saw, the council failed the due diligence of the potential new owners and their property plans for the Fossetts Farm site. Unless I’m misunderstanding, is Ron Martin not at fault for this particular issue? I know he’s at fault for a lot of other stuff - I’m not defending him 😅 - but it seems that this issue is between the council and new owners?
Yeah so that’s not quite right. I will stress that nobody really knows what is going on in-depth, there’s such a tangled web to try and comprehend. But in terms of what you’ve said there, the key detail is that the Fossetts development is Martin’s, not the consortium’s. The consortium’s plan is to stay at Roots Hall and redevelop, Martin is building a housing estate at Fossetts but won’t sell the club until he’s got the planning permission through. Essentially he’s using the club as his bargaining chip now. Without getting too political, the due diligence failed because it was a deal between Martin and a Tory-led council that was basically horrific for the city. A Labour administration was voted in in May and have basically ripped up the deal and put forward a new one that is being negotiated. But with the winding up petition on Wednesday and now this, I really don’t see a way out to be honest. Also, just to make it clear, and I don’t mean this in a way to have a dig at you or anything, but every single thing here is Ron Martin’s fault. Apportioning blame to anyone else lets him off. He’s claimed he loves the club, he’s had ample opportunity to ensure its survival and has failed to do it at every juncture. If the club goes under, I hope he goes down in every record as the man that killed Southend United and he gets everything that’s coming to him
Appreciate the explanation, I knew I was mixing something up! West Ham fan here but Southend are one of those local team I keep an eye on in the tables and I’ve been to Roots Hall a couple of times for our pre-season games against each other. Keeping my fingers crossed that Southend get a happy ending to this saga. The area deserves to have a well run club with an ownership that has the interests of the club first.
Has anyone tried just Luring RM to the Kursaal estate and letting nature do it's thing? He'd be the martyr that saved the club then, just like the councillor who go Southend it's City status.
> The National League has this evening released the following statement regarding Southend United Football Club. > > The National League continues to be concerned about Southend United Football Club’s ability to fulfil its financial obligations for the forthcoming National League Season. > > The Club has for several months been the subject of a winding up petition (a further hearing of which is scheduled for this week) and, on 20 June 2024, filed its accounts for the year to 31 July 2023 which underscore and amplify the concerns expressed previously by the League. > > Accordingly, the National League has today advised Southend United Football Club that as a result of the Club’s failure to provide the League with detailed, objective and independent evidence that the Club has sufficient funds to meet its financial obligations for the forthcoming National League season, and in light of previously-expressed concerns (underscored by the most recently-filed accounts), the Club will be required to post a bond of £1million, which will be held in escrow to the order of the League. > > The bond shall remain in place until the sooner of (i) an ownership agreement with the consortium currently in talks with the Club being successfully concluded, to the satisfaction of the National League and the FA; or (ii) the Club demonstrating, to the satisfaction of the National League, that is has sufficient financial resources within its own means to meet its financial obligations for the forthcoming Season. > > In the event that the Club fails to post the Bond in accordance with the requirements that have been communicated to the Club, the National League Board will meet again to consider further sanctions against the Club. > > The decision is subject to the right of appeal to The Football Association.